Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0061%/8hpaid last 24h +0.015%

Price spread now: Kraken Futures against KuCoin+0.147%7-day average +0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$870.867% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.076%+$8 on $10k

Price spread, last 3 days (all we have)−0.059%−$6 · spread now +0.147%, 7d avg +0.066%

Together, before fees+0.017%+$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.081% dearer against KuCoin than usual: you sell high and buy low (spread +0.147% now, against its 7-day average of +0.066%): +$8 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.4 days. Mind the row above: over the last 7 days funding on this pair paid +0.076%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PENGUUSDTM	0.008898	0.0100	pay 0.0050% / 4h	23m 20s	$4.9M	$8.0M	75x
Short	Kraken Futures PF_PENGUUSD	0.008911	0.0039	get 0.0005% / 1h	23m 20s	$412K	$2.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee KuCoinbpFee Kraken FuturesbpOrdersPrice spread, now +0.147%Rate

Funding earned: −$12.83
Price spread: +0.147% → +0.066%: $8.12
Slippage, 4 orders: −$64.66
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$91.36
Costs to cover: 0.867%
Break-even: never at this rate

Slippage from KuCoin: live order book, 9 min ago; Kraken Futures: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy KuCoin live order book, 9 min ago	2.24 bp	25.1 bp −$25	65.4 bp −$654	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	11.23 bp	21.7 bp −$22	44.7 bp −$447	doesn't fit	doesn't fit

PENGU on 34 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit PENGU_USDC-PERPETUAL	−0.0087%	1h	0.008909	+0.124%	$20K	$7K	10x	as long as short
Gate PENGU_USDT	−0.0052%	4h	0.008898	0.000%	$3.7M	$14.3M	75x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008899	+0.017%	$12K	$5K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008908	+0.107%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008792	−1.191%	$3K	$24K	5.5x	as long as short
Kraken Futures PF_PENGUUSDshort	+0.0039%	1h	0.008911	+0.147%	$412K	$2.0M	50x
Lighter PENGU	+0.0096%	1h	0.008913	+0.169%	$326K	$623K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008896	−0.017%	$681K	$734K	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008905	+0.084%	$176K	$408K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008895	−0.034%	$194K	$162K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.008907	+0.101%	$38.0M	$142.1M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008902	+0.045%	$23.9M	$31.8M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008902	+0.045%	$8.2M	$45.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008900	+0.022%	$20K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008902	+0.045%	$12.7M	$11.8M	125x	as long as short
KuCoin PENGUUSDTMlong	+0.0100%	4h	0.008898	long leg	$4.9M	$8.0M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.008908	+0.112%	$8.2M	$11.5M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008902	+0.045%	—	$3.9M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008898	0.000%	$317K	$314K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008880	−0.197%	$839K	$596K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008930	+0.362%	$478K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008918	+0.225%	$84K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008910	+0.135%	$22K	$187K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009119	+2.484%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008900	+0.022%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008951	+0.596%	$97K	$246K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008904	+0.067%	$183K	$679K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008910	+0.135%	$206K	$17K	3x	as long as short
Hyperliquid PENGU	+0.0169%	1h	0.008911	+0.146%	$10.6M	$13.1M	5x	as long as short
Reya PENGURUSDPERP	+0.0236%	1h	0.008897	−0.010%	$300	—	10x	as long as short
01 Exchange PENGUUSD	+0.0256%	1h	0.008903	+0.056%	$204	$59	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008914	+0.180%	$1.6M	$2.5M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0508% / S −0.0698%	1h	0.008907	+0.101%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2976%	1h	0.009092	+2.180%	$96K	$108K	50x	as long as short